The present era of globalization and resources are utilized as best possible manner with a view to gain competitive edge over competitors for accomplishing organizational effectiveness in present economy of world. With the climate change and degradation of environment the sustainability is main priority for an organization because firms are directly or indirectly involved with environmental activities. Many of the concerns do not pay any attention to these activities and focus more in earning huge profits and they are playing a major role in exploiting the natural resources. Hence the Responsibility towards environment has become one of the most crucial areas of social responsibility. To understand the relationship between natural environments and economic development, the green accounting system is an essential element. Green accounting plays an important role in measuring the practices impended by the corporate sector for environmental sustainability. The main aim of this research paper is to discuss the concept of green accounting and to explore the reflection of CSR as environmental cost towards environmental sustainability. Hence out of total development sectors under the CSR  the four sectors relating to environmental sustainability have been discussed in the term of the portion of companies engaged in contributing amount as CSR for environmental sustainability has been calculated in the form of percentage and analysed through descriptive statistics by which is cleared that companies are focusing towards Environment, Animal Welfare, Conservation of Resources, Health, Eradicating Hunger, Poverty and Malnutrition, Safe Drinking water, Sanitation, Clean Ganga Fund and Swachh Bharat Kosh in the form of CSR contribution.

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Keywords: Green Accounting, Sustainable Development, CSR.